Movie studios may find unveiling new releases online to be a winning strategy during the COVID-19 outbreak, at least for U.S. Hispanics.
An H Code survey of U.S. Hispanics found that 85 percent of those surveyed would pay $10-$15 to watch a new release at home.
And while the $20 movie ticket may be a norm in New York and other large cities, the average price of a ticket throughout the country was only $9.01 in the first quarter of 2019.
However, this spells bad news for movie theaters, which make most of their money via concessions rather than direct ticket sales.
Furthermore, 62 percent of those surveyed stated that they would avoid movie theaters even if they reopened right now.
Still, 69 percent plan on holding family movie night despite COVID-19.
Seeing as how U.S. Hispanics represent one-fifth of the U.S. population, their attitudes towards new movie releases have broader implications for the industry.
Television streaming has increased amongst the Hispanic population as well, with 60 percent of the demographic surveyed spending three to five more hours than usual streaming video.
And this increase seems to have favored streaming over traditional broadcast channels, with the last six last watched shows by U.S. Hispanics all available on one or more streaming sites:
In total, 61 percent of Hispanics are signed up to two or more video streaming services, with 32 percent signing up for new services now that they’re staying at home.